Oil dropped 4 per cent overnight to below $US30 a barrel as US crude stockpiles ticked up and diesel inventories swelled, offsetting OPEC-led cuts in production and hopes for a recovery in demand as some countries ease coronavirus lockdowns.
Gold fell more than 1 per cent overnight, pressured by a stronger dollar and expectations that gold supplies will grow as bullion refineries resume operations, and on gradual improvement in investor risk appetite as countries have begun to ease coronavirus restrictions.
Perth Airport has hit back at Qantas chief executive Alan Joyce after he claimed the airport had refused to relieve the airline of rent and passenger fees during the COVID-19 pandemic.
Retail spending in Western Australia increased by 9.9 per cent in March as consumers stockpiled food, home and office supplies, resulting in some retailers, including JB Hi-Fi, posting a strong quarter.
Gold steadied above $US1,700 an ounce overnight, as massive global stimulus measures to ease the economic blow from the coronavirus pandemic offset improved risk sentiment on the back of easing restrictions and lockdowns.
The Australian share market has risen by more than one per cent for a second straight day as sentiment cautiously improved for the country's economic prospects.
WA has reported its sixth consecutive day of no new coronavirus infections. Prime Minister Scott Morrison says coronavirus restrictions are costing the Australian economy $4 billion each week. The National Cabinet is expected to ease some restrictions on Friday.
Outdoor wear retailer Kathmandu has seen a surge in online sales in April but will open most of its stores in Australia by the end of this week as strict restrictions for COVID-19 are eased.
Qantas has extended the suspension of most of its domestic and trans-Tasman flights until the end of June, and for international flights until the end of July.
Oil was up 3 per cent overnight as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world's top producing nations and companies take hold.
Gold rose overnight as brewing tensions between the United Sates and China over the novel coronavirus outbreak kindled fears of a new trade war and had investors seeking safe havens.
The Australian share market has demonstrated its resilience, reversing its early losses of as much as 1.4 per cent to finish higher by a similar amount and start the week off on a positive note.
WA has reported its fifth consecutive day of zero coronavirus infections. Roger Cook has warned Western Australians cannot become complacent, despite four more recoveries overnight. There are 15 active cases in WA.
Adarsh Australia has been awarded a government contract to produce up to 10,000 face shields for Western Australia’s surgeons and ENT specialists, boosting the state’s supply of critical protective medical equipment during the COVID-19 pandemic.
Westpac has joined rival ANZ in deciding to not pay an interim dividend to shareholders after it posted a first-half profit slide because of hefty impairment charges related mainly to the COVID-19 pandemic.
US President Donald Trump's threat to impose new tariffs on China has helped gold prices climb by more than one per cent but bullion was on track for its worst week since mid-March.
Oil producers should start the week buoyant after two industry benchmarks posted their first weekly gains in four weeks as OPEC and its allies cut output to tackle a supply glut from the coronavirus crisis.
The National Cabinet has brought forward its decision to ease restrictions. The federal government will inject a further $205 million into aged care. Western Australia has reported zero new coronavirus cases overnight. The state government will launch a COVID-19 testing program in schools.
Western Australians broadly approve of the state government’s efforts to suppress COVID-19 but are becoming concerned about their own economic security, according to new research into the community’s response to the pandemic.
Retailers, shopping centre owners and shop assistants have joined forces to sell a plan to get people back into their stores and protect everyone's health.
Shares have slumped at the start of trade on the Australian stock market as investors respond to more global economic gloom from the coronavirus pandemic.
